Envestnet Portfolio Solutions Inc. reduced its stake in NiSource Inc. (NYSE:NI - Free Report) by 6.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 204,444 shares of the utilities provider's stock after selling 13,119 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in NiSource were worth $7,515,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in NI. JPMorgan Chase & Co. boosted its stake in shares of NiSource by 88.4% during the third quarter. JPMorgan Chase & Co. now owns 14,902,538 shares of the utilities provider's stock valued at $516,373,000 after purchasing an additional 6,991,608 shares in the last quarter. Bank of Montreal Can increased its stake in shares of NiSource by 53.3% in the third quarter. Bank of Montreal Can now owns 5,124,909 shares of the utilities provider's stock valued at $176,194,000 after buying an additional 1,782,078 shares during the period. State Street Corp raised its holdings in NiSource by 5.8% in the 3rd quarter. State Street Corp now owns 22,691,174 shares of the utilities provider's stock valued at $786,249,000 after buying an additional 1,247,368 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in NiSource in the 3rd quarter valued at approximately $32,162,000. Finally, Retirement Systems of Alabama grew its holdings in NiSource by 793.3% during the 3rd quarter. Retirement Systems of Alabama now owns 883,387 shares of the utilities provider's stock worth $30,609,000 after acquiring an additional 784,495 shares during the last quarter. 91.64% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other news, CAO Gunnar Gode sold 5,500 shares of the company's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $39.92, for a total transaction of $219,560.00. Following the transaction, the chief accounting officer now owns 24,758 shares in the company, valued at approximately $988,339.36. This represents a 18.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.13% of the company's stock.
Analyst Ratings Changes
Several equities analysts have recently issued reports on NI shares. UBS Group raised their price target on shares of NiSource from $40.00 to $45.00 and gave the company a "buy" rating in a research note on Friday. Wells Fargo & Company raised their target price on NiSource from $39.00 to $43.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th. Nine analysts have rated the stock with a buy rating, According to MarketBeat, NiSource has a consensus rating of "Buy" and a consensus target price of $38.89.
Check Out Our Latest Stock Analysis on NiSource
NiSource Trading Down 1.0 %
NI stock traded down $0.39 during midday trading on Friday, hitting $39.18. The stock had a trading volume of 10,561,717 shares, compared to its average volume of 3,706,512. The company has a current ratio of 0.51, a quick ratio of 0.41 and a debt-to-equity ratio of 1.13. The firm has a market cap of $18.41 billion, a P/E ratio of 24.19, a price-to-earnings-growth ratio of 2.56 and a beta of 0.50. The business has a fifty day moving average price of $38.61 and a two-hundred day moving average price of $36.58. NiSource Inc. has a 1-year low of $26.26 and a 1-year high of $41.45.
NiSource (NYSE:NI - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The utilities provider reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.05). NiSource had a return on equity of 7.87% and a net margin of 13.94%. During the same period in the prior year, the business earned $0.53 earnings per share. On average, sell-side analysts predict that NiSource Inc. will post 1.91 earnings per share for the current fiscal year.
NiSource Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 20th. Shareholders of record on Wednesday, April 30th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.86%. The ex-dividend date is Wednesday, April 30th. NiSource's dividend payout ratio (DPR) is presently 69.14%.
NiSource Profile
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Free Report)
NiSource Inc, an energy holding company, operates as a regulated natural gas and electric utility company in the United States. It operates in two segments, Gas Distribution Operations and Electric Operations. The company distributes natural gas to approximately 3.3 million customers through approximately 55,000 miles of distribution main pipeline and the associated individual customer service lines; and 1,000 miles of transmission main pipeline in northern Indiana, Ohio, Pennsylvania, Virginia, Kentucky, and Maryland.
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